Luton, Bedfordshire, United Kingdom, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Cable market.
Cable Market exhibiting a CAGR of 5.0% is projected to reach USD 288.50 billion by 2029, during the forecast period.
A cable is a thick wire or group of wires in a rubber or plastic sheath used to transmit electrical or electronic signals. They are made of a conductive material secured by one or more layers of insulation to carry electrical signals and assist in the generation, transmission and distribution of electrical energy. The main components of cable are conductor, dielectric and sheath. Conductive paths for current in cables are provided by conductors. Insulation helps withstand operating voltages and separates energized conductors from other objects. The sheath prevents the ingress of moisture and protects the cable from any external influences such as chemical or electrochemical attack or fire.
The heavy investment in smart grids has increased the need for grid connectivity. Additionally, increasing funding for underground cables and advances in renewable energy have escalated the adoption of cable Market. The main purpose of cables is to carry electrical signals and electromagnetic waves from one endpoint to another. In addition, cables and cable assemblies play an important role in the integration mechanisms of various systems and subsystems.
“The Cable market is anticipated to observe robust recovery rate along with the extensive demand for cables products post pandemic.”
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Recent Developments
- In January 2022, Prysmian Group secured a HVDC submarine cable project by Samsung C&T to deliver power cables. The project comprises the design, accessory assembling, supply, site acceptance, and testing of 320 kV HVDC single-core cables equipped with XLPE insulation.
- Elsewedy Electric signed a new contract worth over USD 28 million with the Public Authority for Housing Welfare in Kuwait to facilitate power transmission for the El Mutlaa residential city.
Cables Market Report Highlights >> Inquire For Discount
| Aspects | Details |
| By Installation Type |
|
| By Voltage Type |
|
| By End Use |
|
| By Region |
|
| Key Market Players | Huawei Technologies, Prysmian Cables Systems, Nexans, ABB, Furukawa, General Cable, Axon Cable, Polycab, KEI Industries, Sumitomo Electric Wiring Systems |
Cable market Key Players:
The key market players in CABLE include Prysmian Group (Milan, Italy), Southwire Company. (Georgia, U.S.), Nexans (Paris, France), Furukawa Electric Co., Ltd. (Tokyo, Japan), Fujikura Ltd. (Tokyo, Japan), Sumitomo Corporation (Tokyo, Japan), Belden Inc. (Missouri, U.S.), LS Cable & System (Anyang, South Korea), KEI Industries Ltd (Delhi, India), Cords Cable Industries Ltd. (Delhi, India), Marlin Steel Wire Products LLC (Maryland, U.S.), Amphenol (Connecticut, US), Finolex Cables Ltd (Maharashtra, India), Polycab (Maharashtra, India), Encore Wire Corp (Texas, U.S.) and others.
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Key Market Segments: Cable Market
Cable Market by Voltage
- Low Voltage
- Medium Voltage
- High Voltage
- Extra-High Voltage
Cable Market by Application
- Aerospace & Defense
- Construction
- It & Telecommunications
- Power Transmission and Distribution
- Oil & Gas
- Consumer Electronics
- Manufacturing
- Automotive
- Others
Regional Analysis
The North American market is expected to grow significantly as renewable energy generation and increased energy efficiency drive regional prominence. For example, the International Renewable Energy Agency (IRENA) reports that North America's total renewable energy capacity will exceed 392,262 megawatts (MW) in 2020, representing nearly 8% year-on-year growth.
Europe is estimated to hold her second largest market share in the global market. Increased investment in expansion of network infrastructure and increased demand for renewable energy. Spain, Italy, Estonia, Finland, Sweden and Norway have reached nearly 100% smart meter coverage, according to smartEn, a European business association that integrates consumer-centric solutions for the clean energy transition. Other countries, such as Denmark, have already crossed the 80% mark and are planning further launches that should create promising growth opportunities for the market in the coming years.
Top Impacting Factors
The major factors impacting the global cable market include increasing investment in electrical energy transmission and distribution which is fueling the demand for cables. Moreover, the market is affected by increasing investment in the industrial sector and increasing urbanization. However, complex error detection and debugging procedures hinder the market growth to some extent. In addition, favorable renewable energy policies offered by governments of key countries will drive market growth. Each of these factors is expected to have a significant impact on the global cable market share during the forecast period.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cables market analysis from 2022 to 2029 to identify the prevailing cables market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cables market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cables market trends, key players, market segments, application areas, and market growth strategies.
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